posted
ActiveCore Technologies Offers to Purchase Assets of Infolink Technologies Ltd. Monday December 27, 10:00 am ET
TORONTO, Dec. 27, 2004 (PRIMEZONE) -- ActiveCore Technologies, Inc., formerly IVP Technology Corporation (OTC BB:TALLE.OB - News), announced today that its board of directors has approved the issuance of an offer valued at $1,500,000 for the assets of Infolink Technologies Ltd. (Vancouver:IFL.V - News). The offer was delivered on December 23, 2004 and was addressed to the independent directors of Infolink, a public company that trades on the Toronto Stock Exchange Venture Exchange. ADVERTISEMENT
Peter Hamilton, President and CEO of ActiveCore said, ``We issued the offer to purchase the assets of Infolink directly to its independent directors, Stewart Wright and Andrew Lawson, because Infolink shares are currently under an Ontario Securities Commission cease trading order. We would have preferred to make a share offer directly to the shareholders for the entire company, however we believe that our offer, if accepted, will enable the majority shareholders of Infolink an efficient and effective avenue for liquidity and value for their lost investment in Infolink shares. Until September, Infolink shares had been thinly traded in the CAD $0.03 range. The OSC halted trading in Infolink in October as a result of the findings of Grant Thornton, the Ontario Court appointed monitor and inspector. Recent court actions launched by several minority shareholders resulted in the installation of the independent monitor and inspector for Infolink. The inspector found that Cesar Correia, 34% shareholder of Infolink and former President and CEO of Infolink, had misappropriated cash and other assets and that corporate governance at the company was unsatisfactory. The Ontario courts stripped Mr. Correia of his officer and director positions, however he was left an employee of Infolink and we believe still guides the company behind the scenes. By appealing to the independent directors of Infolink, we believe that the majority of the company's shareholders will be able to obtain a substantial recovery on their investment.''
Mr. Hamilton went on to say, ``We believe the offer of shares in ActiveCore for the equivalent of USD $1,500,000 provides the non-controlling majority shareholders with an opportunity to realize a stock dividend in ActiveCore shares in direct proportion to their holdings of Infolink. This would leave Infolink as a shell company whose independent directors could then pursue further actions against Mr. Correia, or any other directors and officers for the economic losses that the non-controlling shareholders have suffered. Shares of Infolink traded as high as CA $0.80 cents in 2003. Recently Infolink revealed that Andrew Marek resigned as a director of Infolink. Mr. Marek is under suspension by the Upper Canada Law Society for apparently absconding with client trust funds. Infolink also revealed that the company is operating under an Ontario court order, which has ordered better corporate governance through the appointment of two new independent directors to the board. Delays in appointing the new board members and the lack of action to recover misappropriated assets, including legal expenses incurred by the company as a result of Cesar Correia's false affidavit in July 2004, mean that the non-controlling shareholders of Infolink continue to be economically harmed by the actions of management and the existing board. We believe that the ActiveCore offer presents an excellent opportunity for non-controlling shareholders to recover their investment and gain from capital appreciation in ActiveCore shares.''
Mr. Hamilton indicated that, ``The shares of Activecore make an excellent exchange for the assets of Infolink, as they are actively traded with daily volumes in the several millions.'' Trading volumes and share valuation has been aided by the success of the company with gross revenue for the 3 months ended September 30, 2004 at US $1,694,452, up US $588,920 or 53.3% over the US $1,105,532 recorded in the second quarter ended June 30, 2004. On a year to date basis, the company earned revenue of US $2,994,479 for the 9 months ended September 30, 2004, an increase of 741% over the US $355,776 recorded for the 9 months ended September 30, 2003.
Profit from operations for the three months ended September 30, 2004 was US $600,863. Net income for the 9 months ended September 30, 2004 was US $570,882 or 0.0015 e.p.s on the nine month weighted average 387,810,403 shares outstanding. During the quarter ended September 30, 2004, the company continued to improve its balance sheet with several preferred share transactions. Assets climbed to US $5,669,321 while liabilities were US $3,227,027 and shareholders equity was US $2,442,294.
Mr. Hamilton added, ``In comparison, Infolink's tangible assets, including cash, were CA $1,477,780 as at May 31, 2004, the last reported balance sheet. Income for the nine months ended May 31, 2004 was CA $3,134,559 with net profit of only CA $228,261. Infolink has already warned that much of the cash on its balance sheet is being spent on legal defenses to the minority shareholder lawsuit, which resulted in the inspector and monitor being appointed. Infolink's historical financials will need to be restated by its auditors in light of the findings of the court appointed monitor and inspector and it will be some time before the stock can re-open for trading, if at all.''
posted
Looks like we're going to have a Traders Nation interview the first week of January. T.N. exposure usually causes a rise in pps! Good move waiting till the holidays are over for maximum exposure.
To confirm this send an e-mail to: bmacdonald@activecore.com
posted
Watch this one carefully. It really looks like a reverse is imminent. This is from their latest 10Q:
quote:On November 29, 2004 the Company held its annual shareholders meeting at which a resolution was passed to approve the change of the Company's name from IVP Technology Corporation to ActiveCore Technologies, Inc. At the same meeting shareholders voted to change the Company's charter to enable the Board of Directors to effect a reverse split or split in the Company's common shares at a time of its choosing provided that at no time shall the number of outstanding common shares exceed 500,000,000 common shares.
They have issued 480 million of their 500 million already. Something has to happen quickly. Good luck.
posted
They use common stock as a means of payment for many things. They are about 20 million away from having none left to issue. When that happens, they can do one of two things, authorize more which would require a shareholders meeting, or reverse the outstanding down to a low level while keeping the authorized at 500 million. Not bashing here, just pointing out that something is going to happen with this companys share structure in the very near future.
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posted
Not taking it as a bash. Could happen but what is the likelyhood of it happening before their Trader's Nation interview? Seems like a waste if they are trying to attract institutional shareholders which is what they have been doing lately. After the Nov PR about the share authorization I saw an e-mail from Brian Macdonald addressing concerns of an imminent RS. I will try and dig it up and post it.
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posted
There's no telling when it will happen. I could be completely wrong but when the o/s matches the a/s something has to give and as far as I know, those are the only two options. Doing a little math from the 10Q, they went through about 22 million shares per month for the nine month period. As of the end of September they had 17 million left with another 2 million or so shown as being returned. That left them in round figures with one months supply of stock to use as of Sept. 30th. That's why I think that something has to happen in pretty short order here. Good luck to everyone here and believe me, I really do hope I'm wrong.
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quote:Originally posted by Garu: [The next 2 weeks could give a lot of excitment here] Why? Do you know something special in two weeks? Thanks
TALL is in what they call the "quiet period". TALL waits to put out news untill the SB2, wich was filled this week, comes effective. See link :SB-filling They have PR's waiting and there will also be the Tradersnation intervieuw.
The following information is SEC information concerning this quiet period and why TALL waits to put out the news that is in the pipeline.
With special thanks to Tommy from DWB for the great info.
quote: Quiet Period The term ''quiet period,'' also referred to as the ''waiting period,'' is not defined under the federal securities laws. The quiet period extends from the time a company files a registration statement with the SEC until SEC staff declares the registration statement ''effective.'' During this period, the federal securities laws limit what information a company and related parties can release to the public. Rule 134 of the Securities Act of 1933 discusses these limitations.
Despite the restrictions, the SEC has encouraged companies to continue making normal corporate announcements in the ordinary course of business during the quiet period. For more information about what companies can disclose during the quiet period, please read SEC Interpretation: Use of Electronic Media under the heading ''Issuer Communications During a Registered Offering.''
The quiet period also applies to trading in a securities offering under Rules 101 and 102 of Regulation M. For more information about Regulation M, you can read Compliance Guide to the Registration and Regulation of Brokers and Dealers by the SEC's Division of Market Regulation.
And remember, this concerns a company who is profitable know and who has been improving it's Q results quarter after quarter.
-------------------- LIVIOS - A DIRTY MIND IS A JOY FOREVER
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quote: "The quiet period should be over with in a day or so - we have sent the letter requested by the SEC to seek effectiveness so we are just waiting for their reply. cheers"
Livios
-------------------- LIVIOS - A DIRTY MIND IS A JOY FOREVER
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posted
ActiveCore Technologies Announces New Version of Flagship MDLINK Product 1/13/05
TORONTO, Jan 13, 2005 (PRIMEZONE via COMTEX) -- ActiveCore Technologies, Inc. (OTCBB:TALLE) announced today that an updated version of its flagship Java based engine with full healthcare integration, MDLINK V. 4.0, will be available for clients and new customers on February 14, 2005. Public release of the new versio n will coincide with ActiveCore's presence at the 2005 Healthcare Information and Management Systems Society (HIMSS) conference in Dallas Texas, USA.
The latest version of MDLINK - Version 4.0 includes complete healthcare data integration and HIPPA compliance and will compete directly with data integration engines developed by SeeBeyond, Quovadx, Microsoft and Sybase.
Peter Hamilton, President and CEO of ActiveCore, stated, ''I am extremely confident about the maturity and price point of MDLINK V4.0 as a competitor in the healthcare data integration industry and I believe our product offers the best value proposition for organizations that must stretch their I.T. budgets.''
ActiveCore will officially release MDLINK V4.0 at the HIMMS 2005 conference and has pre-sold V4.0 integration licenses to two new customers, including a healthcare region comprising 8 facilities.
MDLINK V4.0 Enhancements
The MDLINK Server engine uses the power of Java and XML to transform data, and with the use of the visual developer Studio, it is easy to create custom Solutions for any healthcare integration requirement. Version 4.0 includes several major upgrades to the internal template processor, powered by Apache:
Health Level 7 (HL7) New HL7 Schema Editor Easy-to-use editor for maintaining HL7 message structures. Custom HL7 Schema Define custom messages based on any HL7 Support 2.X message type. X12 EDI Transactions X12 Parser X12 supports more than 315 electronic data interchange (EDI) transaction sets X12 Generator Easily create X12 transactions using pre-defined X12 schema. Text Messaging SMS Message Task Send customized text messages to mobile devices from your interface processes. Database Monitoring Database Trigger Event The Database Trigger Event plug-in monitors changes to your relational database management systems, such as SQL Server, using native database triggers. ColdFusion Support ColdFusion CFX Custom The ColdFusion CFX Custom Tag Event Tag Event plug-in integrates your data into your web applications. ColdFusion web developers can run ActiveLink solutions using simple markup tags. ColdFusion(c) is a trademark of Macromedia, Inc. About ActiveCore Technologies, Inc. (www.activecore.com)
ActiveCore Technologies, Inc. operates a group of subsidiaries and divisions in the US, UK and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems and facilitate mass corporate messaging through our ActiveCast product set. Our products encompass web portals, enterprise middleware, mobile data access, data management and system migration applications. ActiveCore operates under the trade names of MDI Solutions, C Comm Communications Inc. and Twincentric Limited. ActiveCore services clients in healthcare, financial services, government and manufacturing worldwide.
Statements contained in this news release regarding ActiveCore Technologies, Inc. formerly IVP Technology and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond ActiveCore's control, including, but not limited to, reliance on key markets, suppliers, and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption ''Risk Factors'' in ActiveCore's Registration Statement on Form SB-2A filed with the Securities and Exchange Commission on January 5, 2005. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above
SOURCE: ActiveCore Technologies, Inc.
Brian MacDonald Chairman (416) 252-6200 bmacdonald@activecore.com Agora Investor Relations air@agoracom.com
-------------------- LIVIOS - A DIRTY MIND IS A JOY FOREVER
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posted
ActiveCore Technologies Announces Resignation of Board Chairman via COMTEX
January 18, 2005
TORONTO, Jan 18, 2005 (PRIMEZONE via COMTEX) --
ActiveCore Technologies, Inc., formerly IVP Technology Corporation, (OTCBB:TALL) announced today that Mr. Brian MacDonald, Chairman of the Board, has tendered his resignation to the board effective January 14, 2005, due to deteriorating health.
In his letter to ongoing members of the board, Mr. MacDonald indicated that he has "been experiencing a deteriorating condition that will require that I undergo certain medical procedures and other treatments that will restrict the amount of time and attention that I can devote to ActiveCore's operations and governance. (The) speed at which we have been building the company have taken its toll on my health and I need time to recover and prepare for an operation that I will need to undergo in the next few months."
Mr. MacDonald also went on to say, "I have a great deal of respect for, trust and faith in the other members of the management group and believe that my departure will not restrict the company from growing its revenues and profitability. We have a strong base of executives in the company that manage the day-to-day operations of the various subsidiaries and both Peter Hamilton and John Choy are fully capable of managing the public company reporting and finance side of the parent company. I would be pleased, time and medical condition permitting, to continue to offer whatever assistance I can to the company and to the board members for continuity purposes." The board of directors has not yet named a chairman to replace Mr. MacDonald.
ActiveCore has been growing its revenue and profitability rapidly. In the 3 months ended September 30, 2004 gross revenue was $1,694,452 an increase of $588,920 or 53.3% over the $1,105,532 recorded in the second quarter ended June 30, 2004. On a year-to-date basis, the company earned revenue of $2,994,479 for the 9 months ended September 30, 2004 an increase of 741% over the $355,776 recorded for the 9 months ended September 30, 2003.
Profit from operations for the three months ended September 30, 2004, was $600,863. Net income for the 9 months ended September 30, 2004, was $570,882 or 0.0015 per share on the nine month weighted average 387,810,403 shares outstanding. Although the fiscal year end statements have not yet been completed, the company believes that results for the fourth quarter ended December 31, 2004, will be approximately the same as for the third quarter ended September 30, 2004. This would indicate an estimated earnings per share of slightly less than a half cent per share.
About ActiveCore Technologies, Inc. (www.activecore.com)
ActiveCore Technologies, Inc., formerly IVP Technology Corporation, operates a group of subsidiaries and divisions in the US, UK and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems and facilitate mass corporate messaging through our ActiveCast product set. Our products encompass web portals, enterprise middleware, mobile data access, data management and system migration applications. ActiveCore operates under the trade names of MDI Solutions, C Comm Communications Inc. and Twincentric Limited. ActiveCore services clients in healthcare, financial services, government and manufacturing worldwide.
Statements contained in this news release regarding ActiveCore Technologies, Inc., formerly IVP Technology, and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond ActiveCore's control, including, but not limited to, reliance on key markets, suppliers, and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Risk Factors" in ActiveCore's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on January 4, 2005. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above.
SOURCE: ActiveCore Technologies, Inc.
IR Inquiries AGORA Investor Relations GBNS@agoracom.com http://www.agoracom.com (Select "Global Business Services" Forum)
(C) 2005 PRIMEZONE, All rights reserved.
-------------------- LIVIOS - A DIRTY MIND IS A JOY FOREVER
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quote:Originally posted by accesscard18: my expectation for the week is .05 by friday...
That's my expectation between now and let's say 4 weeks. For this year I consider 0.10 a reasonable goal considering the evolution business of TALL has made the past quarters.
LIVIOS.
-------------------- LIVIOS - A DIRTY MIND IS A JOY FOREVER
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ActiveCore Technologies Announces The Acquisition of DisclosurePlus Inc. Thursday January 20, 12:32 pm ET
TORONTO, Jan. 20, 2005 (PRIMEZONE) -- ActiveCore Technologies Inc., formerly IVP Technology Corporation (OTC BB:TALL.OB - News), announced today it has entered into a definitive agreement to acquire the business of DisclosurePlus Inc., a Canadian private company. We anticipate the transaction will close early in the first quarter and add $2,000,000 USD to the Company's revenue in fiscal 2005. ADVERTISEMENT
DisclosurePlus provides publicly traded corporations with the foundation and tools to enhance the scope of corporate disclosure in line with a standardized regulatory compliant web based solution.
The current corporate securities legal climate has created an environment which requires public companies to more uniformly comply with disclosure to the public. DisclosurePlus brings for the first time continuity of corporate disclosure content through standardized iconology, consistently defined navigational parameters and an easy to use content management system deployed in real time and fully interactive on the client company's web site.
The DisclosurePlus model has been developed with strong feedback and support from Canadian Securities Regulators, financial, legal and insurance organizations, as well as investor relations professionals.
Recent recognition of the DisclosurePlus technology came in late 2004 when RIOCAN, Canada's largest Real Estate Investment Trust (REIT), won the Ontario Chamber of Commerce corporate governance award by using the DisclosurePlus product.
Peter Hamilton, President & CEO of ActiveCore stated, ``The DisclosurePlus acquisition is a perfect fit and allows ActiveCore to fully deploy its business integration and corporate messaging product sets. This is a rare window of opportunity in corporate disclosure history where real change is occurring.
``There is a definitive and positive role we can play in shaping the future of good corporate disclosure, which will ultimately benefit investors and the capital markets. Our near future plans include introducing the technology to stock exchanges world wide and as a result restoring investor confidence in public companies, which has been eroded over the last several years.''
Gord Sutton, CEO of DisclosurePlus and Sutton Integrated Solutions, credits his twenty years in corporate design and communications as his inspiration for the development of DisclosurePlus: ``I am emboldened by the speed with which DisclosurePlus has been adopted by the corporate community and with the strong feedback and support I continue to receive from many of Canada's most influential CEO's and Investors alike.''
Dean Peloso, former head of SEDAR, appointed President of DisclosurePlus, commented, ``At DisclosurePlus we believe that better disclosure leads to better valuations and liquidity, obviously to the benefit of both current and future shareholders. ActiveCore's technology has proven to be the perfect vehicle for delivering DisclosurePlus' best of breed disclosure solution. We're proud to be joining the ActiveCore team of professionals.''
Ultimately, it is anticipated the use of the standardized best practices that DisclosurePlus employs will evolve in the same way in which mandatory regulated use of EDGAR in the United States and SEDAR in Canada was adopted.
About DisclosurePlus, Inc. (http://www.DisclosurePlus.com)
DisclosurePlus, Inc. is a privately held Canadian Company specializing in the development of software and intellectual property which addresses the need of public companies to implement best practice disclosure as required by the various regulatory agencies.
About ActiveCore Technologies, Inc. (http://www.ActiveCore.com)
ActiveCore Technologies, Inc., formerly IVP Technology Corporation, operates a group of subsidiaries and divisions in the U.S., U.K. and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems and facilitate mass corporate messaging through our ActiveCast product set. Our products encompass web portals, enterprise middleware, mobile data access, data management and system migration applications. ActiveCore operates under the trade names of MDI Solutions, C Comm Communications Inc. and Twincentric Limited. ActiveCore services clients in healthcare, financial services, government and manufacturing worldwide.
Statements contained in this news release regarding ActiveCore Technologies, Inc. formerly IVP Technology and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond ActiveCore's control, including, but not limited to, reliance on key markets, suppliers, and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption ``Risk Factors'' in ActiveCore's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on January 5, 2005. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above
--------------------------------------------------- ----------------------------- Source: ActiveCore Technologies, Inc.
-------------------- LIVIOS - A DIRTY MIND IS A JOY FOREVER
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posted
nice pr..... now we just need to wait for the TN to air which will attract more investors..... Good luck and patience is the key with this stock.. I have confident in it......
livios, good luck with your shares and mine and others too.. lol
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posted
We did not have to wait very long for that intervieuw. Nice figures that Peter has been talking about. This should attract some new people into buying this stock. I'm completly loaded and ready for the run north.
GLTA.
Livios
quote:Originally posted by accesscard18: nice pr..... now we just need to wait for the TN to air which will attract more investors..... Good luck and patience is the key with this stock.. I have confident in it......
livios, good luck with your shares and mine and others too.. lol
Interview with Traders Nation just released and has a projection of $18M-$20M in revenue for 2005. http://www.tradersnation.com
Let's do some quick calculation, with a projected $18M-$20M in revenue for 2005 and let's say that cost of operation is around $1M per quarter (based on the last three 10Q's), this means a net profit of around $14M-$16M.
At around 500M shares O/S, that gives a projected net EPS of 0.028- 0.032, and a PPS projection of $0.98-$1.12 using a conservative P/E of only 35!
Now tell me if the stock is currently undervalued or not???
Expect Monday to be pretty busy for this stock! Of course do your own DD!
Interview with Traders Nation just released and has a projection of $18M-$20M in revenue for 2005. http://www.tradersnation.com
Let's do some quick calculation, with a projected $18M-$20M in revenue for 2005 and let's say that cost of operation is around $1M per quarter (based on the last three 10Q's), this means a net profit of around $14M-$16M.
At around 500M shares O/S, that gives a projected net EPS of 0.028- 0.032, and a PPS projection of $0.98-$1.12 using a conservative P/E of only 35!
Now tell me if the stock is currently undervalued or not???
Expect Monday to be pretty busy for this stock! Of course do your own DD!
GLTA!
-------------------- LIVIOS - A DIRTY MIND IS A JOY FOREVER
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New services introduced for CNQ issuers created by Third party Providers
CNQ is pleased to introduce a program of services developed for CNQ listed companies. All of these services are delivered by independent companies who have created specific offerings and/or discounted pricing that is exclusively available to companies listed on the CNQ stock exchange. The independent companies include eResearch, Targeted Inc and Disclosure Plus. Each of these has been selected on the basis of their industry leadership and innovation and their ability to deliver exceptional value and service to emerging companies.
eResearch is a highly regarded provider of independent stock market research. It has a group of over 25 securities analysts and covers all industry sectors. It is also one of the founders of First Research Consortium that has established standards of conduct for analysts that are more stringent than any other research body. (www.eresearch.ca)
Targeted Inc. is a provider of strategic shareholder data covering 3700 public Canadian companies and over 28,000 institutional and insider shareholders. It provides current, accurate information to subscribers at a fraction of the cost of competing services. (www.targeted.ca)
Disclosure Plus is a new provider of investor relations website services that has an innovative platform offering the ability to inform investors in an easy to use format while also providing a framework that facilitates full compliance with regulatory guidelines and policies regarding electronic communications. (www.disclosureplus.com)
A link to each of these providers has been established on www.cnq.ca and details of the products and services offered will be provided directly to CNQ issuers. This initiative has been created by CNQ to assist its listed companies in developing excellent relations with investors and the securities industry so that they can more effectively achieve their individual business goals.
CNQ commenced operations in July 2003 and became Canada's newest stock exchange, recognized by the Ontario Securities Commission, in May 2004. It has an innovative market designed to address the needs of emerging companies and their investors by providing a simple and effective trading system. CNQ's market fosters liquidity through a unique blend of a central auction market and a competitive market making system. There are 40 companies listed and 17 major investment dealers from across Canada with direct access to the market and 19 other dealers that participate indirectly. CNQ has established a Service Directory on www.cnq.ca that provides introductions to key providers of services to brokers, issuers and investors.
For more information contact Robert G. Cook, President and CEO, Robert.cook@cnq.ca Tel: 416.572.2000 ext. 2470
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posted
I was expecting more volume today but most of the stocks were trading with low volume with no exeption for TALL. I still have couple of remarks for todays trading:
1) At the mid-day, NITE went to the bid and he was very aggressive at the end of the day. If you look the Level II, NITE is at 0.029 NOW!!! Which may create a change in the trading pattern because, if we like it or not, NITE is the biggest MM in the market.
2) From 11:30 PM to 1:00 PM (pacific time), the buying pressure was high in a such a way that all the trades passed at the ask. You can review and see this yourself.
These two remarks allow me to think that the number of people who start to know about this GEM is growing day after day ... On day, this number will become big enough then we KABOOM.
posted
Looks good for moving past the .03 hurdle by the end of the week. The steady climb is very healthy and it seems as if it will only continue its way up to .05.
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ActiveCore Technologies Signs Exclusive Distribution Agreement with TransTOOLs
January 27, 2005 09:30:38 (ET)
TORONTO, Jan 27, 2005 (PRIMEZONE via COMTEX) -- ActiveCore Technologies Inc. (TALL, Trade) is pleased to announce the formation of a new strategic partnership with TransTOOLs, a leading Spanish IT company. Under the terms of the agreement, ActiveCore will become the exclusive Canadian and U.K. distributor of TransTOOLs' proprietary application known as Caravel. It is anticipated that this exclusive distribution agreement will result in approximately USD $1 million -- $1.5 million in additional revenue to ActiveCore for fiscal 2005.
Caravel is a leading application for reengineering and translating systems developed under proprietary languages such as RPG and COBOL. Caravel specializes in the automatic migration of RPG and COBOL systems to Java(tm). The main benefit of the Caravel technology is that it facilitates the migration of applications from old and outdated computer systems to a new platform of choice, without having to rewrite the entire code.
Once translated into Java, there are numerous advantages in terms of robustness and flexibility. This standard allows for graphic interfaces, object-oriented programming, multi-platform, Web enabled applications and e-business components, using the most advanced technology.
This strategic partnership remains consistent with ActiveCore's business model of providing Integration and Modernization tools for companies seeking to upgrade their existing systems. ActiveCore will facilitate the growth of new business and relationships for existing and potential customers in the Canadian and U.K. markets by leveraging their outstanding reputation within their industry. As a result, ActiveCore will become the premier and exclusive supplier in these markets for TransTOOLs' services.
Yinon Feldheim, V.P of International Development commented, "ActiveCore has vast experience in large systems migrations and in the transformation of host-based applications and offers us the perfect technical partner. In this relationship, not only will ActiveCore take the lead in customer identification but will also provide local support to customers during the conversion projects and will optionally contract further development activities with the customers."
To present this new partnership to the Canadian market place, ActiveCore and TransTOOLs recently participated in "Common" (The IBM User Groups) held in Toronto, Canada, sharing an exhibition booth where demos and presentations of Caravel were made.
Both TransTOOLs and ActiveCore are confident that this new agreement will win the confidence of the iSeries users' communities in Canada and the U.K, who wish to modernize their legacy applications by migrating to the new Java technological platform.
ActiveCore's primary products are ActiveLink and Net.Visual, which allow companies to integrate disparate systems and build access to their corporate data securely using many alternate interfaces, such as .NET, Web, WAP, VB, C++, Java and many more.
This press release is available on the company's official online investor relations' site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com and view the "ActiveCore" Investor Relations Hub. Alternatively, investors can e-mail AGORA Investor Relations directly at TALL@Agoracom.com.
About TransTOOLs (www.transtools.com)
TransTOOLs provides a complete range of tools and services for reengineering and translating systems developed under proprietary languages (RPG, COBOL and Visual Basic), into Java(tm). Caravel(tm) is one of these services, specialized in the automatic migration of RPG and COBOL systems to Java(tm).
About ActiveCore Technologies, Inc. (www.ActiveCore.com)
ActiveCore Technologies, Inc., formerly IVP Technology Corporation, operates a group of subsidiaries and divisions in the U.S., U.K. and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems and facilitate mass corporate messaging through our ActiveCast product set. Our products encompass web portals, enterprise middleware, mobile data access, data management and system migration applications. ActiveCore operates under the trade names of MDI Solutions, C Comm Networks Inc. and Twincentric Limited. ActiveCore services clients in healthcare, financial services, government and manufacturing worldwide.
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